2017 Q2 Form 10-Q Financial Statement

#000106508817000029 Filed on July 21, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $2.419B $2.230B
YoY Change 8.48% 5.69%
Cost Of Revenue $560.0M $493.0M
YoY Change 13.59% 13.59%
Gross Profit $1.859B $1.737B
YoY Change 7.02% 3.64%
Gross Profit Margin 76.85% 77.89%
Selling, General & Admin $994.0M $840.0M
YoY Change 18.33% -10.73%
% of Gross Profit 53.47% 48.36%
Research & Development $313.0M $295.0M
YoY Change 6.1% 27.16%
% of Gross Profit 16.84% 16.98%
Depreciation & Amortization $168.0M $167.0M
YoY Change 0.6% -455.32%
% of Gross Profit 9.04% 9.61%
Operating Expenses $1.379B $1.206B
YoY Change 14.34% -3.37%
Operating Profit $480.0M $531.0M
YoY Change -9.6% 24.07%
Interest Expense -$18.00M -$8.000M
YoY Change 125.0% -106.45%
% of Operating Profit -3.75% -1.51%
Other Income/Expense, Net
YoY Change
Pretax Income $462.0M $523.0M
YoY Change -11.66% -5.25%
Income Tax $433.0M $86.00M
% Of Pretax Income 93.72% 16.44%
Net Earnings $29.00M $435.0M
YoY Change -93.33% 424.1%
Net Earnings / Revenue 1.2% 19.51%
Basic Earnings Per Share $0.03 $0.38
Diluted Earnings Per Share $0.03 $0.38
COMMON SHARES
Basic Shares Outstanding 1.076B shares 1.144B shares
Diluted Shares Outstanding 1.091B shares 1.149B shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.996B $8.061B
YoY Change 11.6% -23.3%
Cash & Equivalents $2.636B $2.001B
Short-Term Investments $6.360B $6.060B
Other Short-Term Assets $1.270B $1.200B
YoY Change 5.83% -26.96%
Inventory
Prepaid Expenses
Receivables $619.0M $628.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $10.91B $9.914B
YoY Change 10.01% -65.27%
LONG-TERM ASSETS
Property, Plant & Equipment $1.538B $1.502B
YoY Change 2.4% -45.99%
Goodwill $4.665B $4.487B
YoY Change 3.97% -43.22%
Intangibles
YoY Change
Long-Term Investments $4.754B $3.541B
YoY Change 34.26% -39.79%
Other Assets $286.0M $475.0M
YoY Change -39.79% 81.3%
Total Long-Term Assets $16.58B $10.08B
YoY Change 64.47% -41.09%
TOTAL ASSETS
Total Short-Term Assets $10.91B $9.914B
Total Long-Term Assets $16.58B $10.08B
Total Assets $27.48B $19.99B
YoY Change 37.46% -56.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $284.0M $304.0M
YoY Change -6.58% -17.39%
Accrued Expenses $1.811B $1.666B
YoY Change 8.7% -56.24%
Deferred Revenue
YoY Change
Short-Term Debt $2.215B $0.00
YoY Change -100.0%
Long-Term Debt Due $2.200B
YoY Change
Total Short-Term Liabilities $4.596B $2.206B
YoY Change 108.34% -87.07%
LONG-TERM LIABILITIES
Long-Term Debt $9.251B $9.054B
YoY Change 2.18% 33.99%
Other Long-Term Liabilities $64.00M $76.00M
YoY Change -15.79% -38.21%
Total Long-Term Liabilities $9.315B $76.00M
YoY Change 12156.58% -98.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.596B $2.206B
Total Long-Term Liabilities $9.315B $76.00M
Total Liabilities $16.01B $13.54B
YoY Change 18.23% -47.63%
SHAREHOLDERS EQUITY
Retained Earnings $16.02B $8.642B
YoY Change 85.39% -55.93%
Common Stock $2.000M $2.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $20.06B $17.70B
YoY Change 13.32% 17.6%
Treasury Stock Shares 632.0M shares 506.0M shares
Shareholders Equity $11.47B $6.453B
YoY Change
Total Liabilities & Shareholders Equity $27.48B $19.99B
YoY Change 37.46% -56.21%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $29.00M $435.0M
YoY Change -93.33% 424.1%
Depreciation, Depletion And Amortization $168.0M $167.0M
YoY Change 0.6% -455.32%
Cash From Operating Activities $699.0M $763.0M
YoY Change -8.39% -34.0%
INVESTING ACTIVITIES
Capital Expenditures -$182.0M -$147.0M
YoY Change 23.81% -688.0%
Acquisitions
YoY Change
Other Investing Activities -$1.827B -$751.0M
YoY Change 143.28% -56.39%
Cash From Investing Activities -$2.009B -$898.0M
YoY Change 123.72% -47.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.932B -537.0M
YoY Change -459.78% -7771.43%
NET CHANGE
Cash From Operating Activities 699.0M 763.0M
Cash From Investing Activities -2.009B -898.0M
Cash From Financing Activities 1.932B -537.0M
Net Change In Cash 622.0M -672.0M
YoY Change -192.56% 25.84%
FREE CASH FLOW
Cash From Operating Activities $699.0M $763.0M
Capital Expenditures -$182.0M -$147.0M
Free Cash Flow $881.0M $910.0M
YoY Change -3.19% -19.54%

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637000000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1199000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
201000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
238000000 USD
CY2016Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
1451000000 USD
CY2017Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
2215000000 USD
CY2016Q4 us-gaap Short Term Investments
ShortTermInvestments
5333000000 USD
CY2017Q2 us-gaap Short Term Investments
ShortTermInvestments
6381000000 USD
CY2016Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
1336000000 USD
CY2017Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
479000000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
10539000000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
11474000000 USD
CY2016Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
110000000 USD
CY2017Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
102000000 USD
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
33.73
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
557000000 shares
CY2017Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
582000000 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
25000000 shares
us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
0 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
19205000000 USD
CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
20063000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
857000000 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1149000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1159000000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1091000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1097000000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1144000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1151000000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1076000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1080000000 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The preparation of condensed consolidated financial statements in conformity with U.S.&#160;generally accepted accounting principles (&#8220;GAAP&#8221;) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, we evaluate our estimates, including those related to provisions for transaction losses, legal contingencies, income taxes, revenue recognition, stock-based compensation, goodwill and the recoverability of intangible assets. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results could differ from those estimates.</font></div></div>

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